BlockBeats news, August 12, Slow Fog founder Yu Xian stated that the 51% attack on Monero seems to have been successful. The Qubic mining pool can theoretically rewrite the blockchain, implement double spending, and review any transaction. The cost of this attack is high, and it is still uncertain what the financial gain for the attacker is. Relevant platforms are advised to be aware of possible threats and to remain vigilant.
Ledger CTO Charles Guillemet tweeted that 'Monero seems to be experiencing a successful 51% attack. The Qubic mining pool has been accumulating hash power for months and now controls a majority of the network's hash power. A significant chain reorganization was detected this morning. With its current hash power, Qubic can rewrite the blockchain, implement double spending, and review any transaction. The cost to sustain this attack is estimated to be as high as $75 million per day.'
